Zurich Insurance Group will no longer underwrite new greenfield oil exploration projects, Europe’s fifth-largest insurer said on Thursday in an investor day presentation that sought to burnish its green credentials. It also committed to a full phase-out of thermal coal …
Definity Financial Corp., the property and casualty insurer formerly known as Economical Mutual Insurance Co., raised about C$1.4 billion ($1.1 billion) in the largest Canadian initial public offering of the year. A total of 63.6 million shares were sold for …
Strong growth and record premiums are projected for the global insurance industry, as demand for risk protection increases, according to Swiss Re Institute’s latest sigma study. The global insurance market is set to exceed US$7 trillion in premiums for the …
Allianz said on Wednesday that its Chinese life insurance business had received regulatory approval that will allow it to become the first wholly foreign-owned life insurer in China created from a joint venture. Many foreign financial institutions are looking to …
South Africa’s energy regulator and energy minister have been sued by environmental activists over national plans to allow the construction of new coal-fired power plants. Plans for the construction of 1,500 megawatts of coal-fired generation capacity are included in the …
Traffic at Canada’s largest port has been cut off by what local officials are calling the storm of the century, the latest snag to hit the North American supply chain. Days of torrential rain have pelted British Columbia, triggering floods …
This edition of International People Moves covers appointments at Sompo International, AXA XL and OneGlobal Broking. A summary of these new hires follows here. Sompo Int’l Appoints QBE’s Reid as Head of Casualty, International Insurance Sompo International Holdings Ltd., a …
Insurance broker Willis Towers Watson announced it has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel. Financial terms of the deal were not disclosed. Leaderim is one of the top brokers in …
NEW DELHI—India has temporarily shut down five coal-fired power plants around the capital New Delhi as part of its drive to combat air pollution, according to an order from the federal environment ministry panel on air pollution. The Commission for …
Yashish Dahiya’s PB Fintech Ltd. climbed 23% on its first day of trading after raising $761 million in an IPO. Now comes the hard part. “Now, we have to deliver,” the founder and chief executive officer said just hours after …
